The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1887-06-01
THE SUGAR MARKET.

| Since our last advices there have been
two changes in the San Francisco market
On May 9th the California Refinery adj
vanced its prices Is cent on all grades, and
this was followed by another advance
from the same quarter, on May 18th of a
similar amount. This makes dry granu-
lated at so cents. The reason for this adj
vance is not far to seek As already indi-
Gated in the ADVERTISER, the American
Refinery, acting against the best interests
of Hawaii, has been shipping its sugars
east by the Canadian Pacific route. The
| quantity already sent by this means
amounts to 100000 pounds, and a new
contract hiss been entered into for a fur
Their shipment of 100000 pounds. Just
as each contract was made the California
Refinery advanced the price, thus reaping
harvest, Es it controls the local trade.
The American has, in this way and by
it's shipments of raws round the Horn,
thus disposed of nearly half of its year s
supply. That it will lose money on the
Horn speculation we have already clearly
proved. The value of the sugar sent East
was invoiced at 5s6 cents. To this must be
-
on the sugar, besides the freight on the
barrels, which is about 10 per cent more.
1t will thus be seen that the cost at points
on the Missouri, without allowing for
hauling in San Francisco and leakage or
damage on the way, will be more than 6
cents per pound. The Eastern refneries
can ship sugar to the same points at a
trifie under cents. The California Re-
finery can do it at less than the Eastern
retineries. as it has now obtained a special
overland rate of co cents by the direct
American transcontinental lines. The
New York refiners also allow 40 days time
L VII thus be seen that the American is
4 disadvantage in freight rates, except
ST. Paul and Minneapolis, TO which
.,oil,ts it paws co cents per 100 pounds by
The Canadian Pacific. 1t IS at a still greater
disadvantage IN the route by which it is
Shipping, being both longer and causing
more handling with consequent damage
to the sugar
The first lot sent by the Canadian Pa
cidc arrived there in very bad condition,
as We before intimated would be the case.
But the joke of the thing is that these
large shipments of the American Refinery
are merely sent on consignment. The
sugar is not sold. Eastern refineries and
the California are able to underselI it. The
latter has also the advantage of knowing
just what is being sent by the Canadian
Pacific, and of being able to head off these
supplies by direct shipments from San
Francisco, loading up the cars at the re-
finery and not handling the sugar again
until it reaches its destination. The
American again will have a storage ac-
count for 10000 or 1900 tons of sugar.
Manager Steele's embrace of the Canadian
Pacific was somewhat premature, and the
American transcontinens lines are not
forgetting it. Unless sugar advances from
u to q cent per pound within few
months, of which there is not the least
then the shipment by the Horn
will result in a considerable loss.
The beet sugar movement in California
that is being inaugurated by Colonel
Spreckels will not affect the present crop.
Mr.. q. A. Spreckels and Mr. Steele have
both returned from their simultaneous
visits to Montreal, New York, Chicago and /
other points.
Prospects for the Louisiana crop are
hat it viii be very large one, the largest
n fact that has ever been cut. This tends /
llso to increase the surplus stocks